How Zillow Home Loans Stacks Up to Other Lenders

Many mortgage lenders claim they have great loan officers who help clients close quickly and close on time, but can they prove it? And are they innovating to make the digital experience better for agents?

When Zillow examined the mortgage lender landscape at the start of 2024, we discovered that national and local lenders often failed to back up their claims and aren’t developing technology that makes it easier for agents to assist their clients. So we made it a priority to be very clear about how Zillow Home Loans helps you. 

Here’s what makes Zillow Home Loans different from other lenders.

The 4 pillars of a great lender

After we analyzed industry research and conducted focus groups about what buyers and agents want from lenders, four pillars stood out. Here are those pillars – and how Zillow Home Loans aligns with them:

1. Value - Do they offer low rates and the right loan for my clients?
Zillow Home Loans: A variety of loan types with competitive interest rates and low down payment options.

2. Expertise - Do they know what it takes to win and close on time in my area?
Zillow Home Loans: Proven 99% close-on-time rate that helps clients close two weeks faster, on average, than competitors.

3. Communication - Do loan officers proactively communicate and send me updates?
Zillow Home Loans: Dedicated loan officers who’ve earned a 4.8/5-star rating based on thousands of customer reviews. Not only do loan officers send proactive updates, but agents also receive automated updates on their client’s loan status via email and SMS.

4. Support - Do they make it easy for me to find information and move forward?
Zillow Home Loans: New digital features and updates constantly released to help agents grow their business. In 2023 alone, we launched 15+ agent features and updates, including more ways to see the status of your client's financing and seamless options to connect your client with a loan officer.

We’ve consistently heard that agents view national and local lenders as a battle of trade-offs. National online lenders and banks typically offer convenience for clients but lack reliable service and availability. Local lenders excel at building relationships and sharing market knowledge but may struggle to provide digital conveniences many customers expect today. So Zillow Home Loans was developed to be the best of both worlds. 

Rates vs. the rest

Mortgage rates will always be a key factor when buyers are researching different lenders. Most buyers (58%) rank getting the lowest interest rate among their top criteria when choosing a lender, according to our research. That’s why Zillow Home Loans offers competitive rates and a variety of loan options to suit your clients. 

But remember that the interest rate isn’t the only thing that matters. Among buyers with a mortgage, 38% said having a guarantee they will close on time was a top consideration. The same share also put high importance on choosing a lender that communicates promptly. 

Today, many lenders pay lip service to these ideas. But agents want to be confident that whatever lender they recommend can help their client. So as you’re evaluating options, we wanted to share concrete proof points that show exactly what Zillow Home Loans offers your clients.

Reach out to your Zillow Advisor to learn more.